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How are you valuing SFI's interest at $500 mm? Isn't' the math $17.2 mm * 4 = $68.8 mm * 10x (multiple) = $688 mm and SFI own's a 25% interest in the equity so their equity value would be $172 m? How do you get to >$500 mm?
Ignore my last message. I get it.